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Biogen Board OK’s 20M Share Buyback

Xconomy Boston — 

Biogen Idec (NASDAQ:BIIB) said on February 11 that its board of directors has given the Weston, MA-based company permission to repurchase 20 million shares of its common stock to offset stock issuances under its share-based compensation plans. The company, the world’s largest provider of multiple sclerosis drugs, said that there is no experation date on the stock repurchase. The stock closed at $65.83 per share on February 11, making 20 million shares worth about $1.3 billion, according to figures from Google Finance.